Oil Extends Rally on OPEC+ Output Cut and Russian Supply Warning

Bloomberg2022-10-06

OPEC+ agrees to reduce production by 2 million barrels a dayWTI futures have advanced 10% over the past three sessionsOil rose for a fourth session after the OPEC+ alliance agreed to the biggest ...

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robot1234
2022-10-07
robot1234
Oil prices settle up 1% on cuts to OPEC+ production targets. Oil prices rose about 1% Thursday, holding at three-week highs after OPEC+ agreed to tighten global supply with a deal to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020. Brent crude futures settled at $94.42 barrels, up 1.1%. U.S. West Texas Intermediate (WTI) crude futures settled at $88.45 barrels, gaining 0.8% after closing 1.4% up on Wednesday. The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, a group known collectively as OPEC+, comes ahead of a European Union embargo on Russian oil and would squeeze supplies in an already tight market, adding to inflation. “We believe that the price impact of the announced measu
- robot1234:
  Oil jumps to 5-week high lifted by OPEC+ output cut
- siewleng123:
  k
- W Stanley:
  .
- kbp:
  🤔
- E1:
  ok
Bspn
2022-10-06
Bspn
K
hphoa
2022-10-06
hphoa
Hmmm
EY12
2022-10-06
EY12
Like
- EY12:
  hi
LuckyPiggie
2022-10-06
LuckyPiggie
Oh no ... petrol going up again [Facepalm] time to buy bicycle [Surprised] [What]
Joyus
2022-10-06
Joyus
👍

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Oil prices rose about 1% Thursday, holding at three-week highs after OPEC+ agreed to tighten global supply with a deal to cut production targets by 2 million barrels per day (bpd), the largest reduction since 2020. Brent crude futures settled at $94.42 barrels, up 1.1%. U.S. West Texas Intermediate (WTI) crude futures settled at $88.45 barrels, gaining 0.8% after closing 1.4% up on Wednesday. The agreement between the Organization of Petroleum Exporting Countries (OPEC) and allies including Russia, a group known collectively as OPEC+, comes ahead of a European Union embargo on Russian oil and would squeeze supplies in an already tight market, adding to inflation. “We believe that the price impact of the announced 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